Bailout the Big 3?

With the gov't taking over Freddie and Fannie now there is talk about whether they will bail out the big 3.

BO supported the idea early on, no idea if he's since changed his stance or not as this isn't a big issue at the moment. McCain only recently decided on the issue and is on board.

So.. in the 80's we bailed out Chrysler, it ended up working.. for a while and they repaid the loans, but it was only $1.5B.. now Detroit wants $50B in guarantee's.

I can see the plus side here for both sides.. it'll hopefully keep people employed, but at what cost?

Hrm... socialized government already in place? And everyone thinks Obama is going to bring about socialism.

Let them all fall!

So what are your feelings Card? Should the gov bail out the big three, or even one of them? Why shouldn't they if they're bailing out the mortgage industry? Why shouldn't they just go ahead and pick up universal healthcare?

Jeez... "no bailouts, uhm, unless it makes sense"

Lets see... spend nothing and they fail, vs spending 50bn and they fail in 10 years. The problem is that the quality of product is in the Mid-high range, the price is in the high range.... So we have an inferior product at a higher price.... and this is something we need to subsidize?

I think we would do better to let the people lose their jobs, pay their welfare until they can get better jobs... the bill will be about the same...

Give an extra dollar tip to the waitress for crappy service? Jeez, she's just a teenager... she don't know any better.

Where do these executives get their balls... they get the best people in the industry, pay them lots of money to study quality, sales, and marketing. When they fail to properly determine what the market wants, and what makes good business sense, just turn an open hand toward the government.

Aren't these the same ideas that lefty liberals are supposed to champion and support?

I'm not sure where I stand because there's no facts out there.. just ideas.. sort of like BO's campaign, it's all based on ideas...

On the plus side, there are millions of jobs at stake. Personally, I don't think it'll be needed. If the gov't would push more for alternatives to be easier to get (i.e. CNG stations, electric cars (not hybrids)) that would stimulate the big 3 IMO more so. Regardless, if there is a "Bail out" I'd like to see it more like Fannie and Freddie where the gov't takes them over and reaps the profits when/if they come. But at the least the taxpayers are getting something for their money as opposed to just handing them money like last time.

On the negative side, they failed, we shouldn't have to bail them out. Let them die and bring in new blood. Just like the mortgage industry the problems are the results of years of bad decisions. I don't like the Fannie/Freddie bail out, but I see how it is needed.

I'd need to see more on what the particulars are to a bail out for the big 3. If it's just "here's a check, go do something", no way. If it's "here's $X, go develop alternative auto's within the next X months and we'll give you $X more". That I could get behind more so, but there has to be some sort of structured guidelines and penalties in place to protect the taxpayers money.

I dunno... I guess if that is the case I am not a liberal. Propping up a flawed business model such that the business can continue it's flaws is not the left I know...

Maybe I'm too much a capitalist to see this as a good idea.

Fannie & Freddie shouldn't have existed in the first place, we had no choice to bail them out...

meta4 wrote:So what are your feelings Card? Should the gov bail out the big three, or even one of them? Why shouldn't they if they're bailing out the mortgage industry? Why shouldn't they just go ahead and pick up universal healthcare?

Jeez... "no bailouts, uhm, unless it makes sense"

Yea ... looks like he is leaving his options wide open so he can say "yea, I said that was the best plan." Talking Cardinal, not McCain or Obama.

No bailouts. Well, it's too late now for Freddie and Fannie...

Fuck the big three especially. They brought this upon themselves. Building what they want, and limiting options to the end consumer. I can't wait to see them crumble while the Koreans, Japanese, and Chinese kick their asses.

as long as we get some bacon I'm cool with it..

cardinal5150 wrote:as long as we get some bacon I'm cool with it..

you still up for it even if it's Chinese pork?

meta4 wrote:

cardinal5150 wrote:as long as we get some bacon I'm cool with it..

you still up for it even if it's Chinese pork?

hmmmm.... that's a toss up.. how much free beer is involved?

I just can't see bailing out the big 3. Nor can I see bailing out the airlines or any other business.